Monitor for further disclosures on the material weakness in internal controls and the company's plans to address it, as this could lead to future restatements. The significant goodwill balance ($3.43B) creates substantial risk for future impairment charges if the Intralot acquisition does not meet performance expectations.
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Executive Summary
Bally's Corp filed this 10-K/A solely to include the auditor's signature in the opinion letter, which was inadvertently omitted from the original filing. No other changes were made to the financial statements or disclosures. However, the original filing revealed a delayed restatement due to a prior late 10-Q, significant goodwill and intangible asset impairments totaling $181.6 million, and an adverse audit opinion on internal controls due to a material weakness.
Key Facts
- The 10-K/A was filed solely to include the auditor's signature, with no other amendments to the original filing.
- The original 10-K was filed late (NT 10-Q on Nov 12, 2025), indicating a delayed restatement process.
- The company recorded $181.6 million in impairment charges, primarily due to a decline in the value of its B2B licensing business.
- The auditor issued an adverse opinion on internal control over financial reporting due to a material weakness.
- The company completed a major acquisition of Intralot, which significantly increased goodwill to $3.43 billion.
Financial Impact
The company recorded $181.6 million in impairment charges, which contributed to a net loss of $650.1 million for the successor period. The acquisition of Intralot increased total assets to $11.23 billion and total liabilities to $8.69 billion.
Risk Factors
- Material weakness in internal controls increases the risk of future financial statement errors or restatements.
- High goodwill balance ($3.43B) is vulnerable to impairment if the Intralot acquisition underperforms.
- The company's significant debt load ($4.46B long-term debt) could strain cash flow, especially with rising interest rates.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 9 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 10-K/A Filing (Primary) | 0001747079-26-000034 |
| Exhibit: ex312-2025cfocertification.htm | 0001747079-26-000034 |
| Exhibit: ex311-2025ceocertification.htm | 0001747079-26-000034 |
| Exhibit: ex322-2025cfocertification.htm | 0001747079-26-000034 |
| Exhibit: ex321-2025ceocertification.htm | 0001747079-26-000034 |
| Exhibit: ex231-2025consentofindepen.htm | 0001747079-26-000034 |
| Document: 0001747079-26-000034-index-headers.html | 0001747079-26-000034 |
| Document: 0001747079-26-000034-index.html | 0001747079-26-000034 |
| Document: 0001747079-26-000034.txt | 0001747079-26-000034 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 14, 2026 18d ago | 8-K | $9.84 $10.56 | ▲ +7.32% | ▲ +7.21% | $13.95 (+41.77%) |
Aug 5, 2026 8w ago | 8-K | $14.01 $13.70 | ▼ −2.21% | ▼ −2.56% | $13.95 (−0.43%) |
May 18, 2026 19w ago | 8-K | $10.68 $13.68 | ▲ +28.09% | ▲ +25.79% | $13.95 (+30.62%) |
May 8, 2026 21w ago | DEFA14A | $12.84 $11.87 | ▼ −7.55% | ▼ −9.02% | $13.95 (+8.64%) |
Apr 20, 2026 23w ago | 10-K/A | $11.92 $13.02 | ▼ −9.23% | ▼ −8.14% | $13.95 (−17.03%) |
US Market Status
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